The Federal Government has assured Nigerians that in less than 24 months, the current refineries in the country would become 90 per cent operational, and that the application of the money saved from the petroleum subsidy would generate over one million jobs, outside the multiplier effect that would result from investing the fund.
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Speaking at a town hall meeting organised by the Newspaper Proprietors of Nigeria (NPAN) in Lagos yesterday to discuss the removal of fuel subsidy, Diezani Allison-Madueke, Petroleum Minister reminded discussants that the issue of subsidy removal actually started in 2003 with the removal of discount on prices of crude oil sold to the Nigeria National Petroleum Corporation (NNPC).
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She assured that, with the removal of? petroleum subsidy, the current refineries in Port-Harcourt, Warri, and Kaduna would? become 90 per cent operational in at most 24 months. She said, the original builders of the refineries have been contacted and have agreed to turnaround the refineries within the period.
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She assured that when savings from the petroleum subsidy was? put to use, over a million jobs would be generated outside the multiplier effects that would accompany the investments of the money.
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But the problem is that Nigerians generally mistrust government due to the pattern over the years to promise without delivering on the pledges made to the people. Finance minister and coordinating minister of the economy, Ngozi Okonjo-Iweala, who made this submission said there? was need for a paradigm shift in the way government? dealt? with the people.
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She admitted that the resistance to the policy was due to the poor delivery on government promises to the people over the years, adding that Nigerians should? give government the opportunity to regain the trust.
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